Fund accounting services are provided to fund managers, pension funds, insurance companies, and banks that require a comprehensive range of fund administration services in the United Arab Emirates and major offshore jurisdictions, such as the British Virgin Islands, Cayman Islands, and Ireland).
We have also witnessed tremendous growth in the use of an Offshore Company based in the Jebel Ali Free Zone and the International Business Company based in the Ras Al Khaimah Investment Authority as a preferred choice for forming an investment holding company to engage in investments in the Middle East and throughout the world.
Fund accounting typically requires reporting to a large number of stakeholders, in particular mutual funds in which the investors in the fund may number more than 50. This requires an established system in place in order to ensure that all investors are able to receive the fund reports in a secure, internet-based format on a timely basis.
In addition, the fund investments will need to be marked to market based on the requirements of IFRS 9. As such, knowledge and practical expertise in performing valuations are essential to accurately recording the fair market value adjustments on a monthly or quarterly basis depending on the legal status and nature of the fund.
Comprehensive Time-Tested Solutions
As the fund administrator, we can assist with the following functions:
Computation of the net asset value (“NAV”)
Computation of management and performance fees;
Preparation of the quarterly and annual shareholder reports;
Maintenance and filing of the fund reports;
Assistance with the preparation of the fund prospectus; and
Monitoring compliance with rules and regulations.
We can also implement sophisticated performance measurement tools to ensure compliance with the Global Investment Performance Standards ® (“GIPS”) as approved by the CFA Institute Board of Governors to help create a single global standard of investment performance reporting in 1999.
Please refer to the Contact Us page for more information.